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Kings minority owner Kehriotis close to making offer
“I’m real close to raising the money and making an offer,” Kehriotis told me in a very brief phone conversation.
He offered no other details.
As Sacramento Mayor Kevin Johnson announced last Thursday night in his State of the City address, Bay Area entrepreneur Mark Mastrov, founder of the 24 Hour Fitness chain, and Southern California grocery magnate Ron Burkle are working together to buy the Kings and build an arena at the site of the Downtown Plaza mall.
The one counteroffer submitted to the National Basketball Association and this possible one by Kehriotis come as the NBA Board of Governors prepares in mid-April to consider the offer for the Kings made by a Seattle investment group led by Seattle billionaire Chris Hansen and Microsoft Corp. CEO Steve Ballmer.
Kelly Johnson covers retail, insurance, marketing and media, manufacturing and distribution, sports business, nonprofits and education for the Sacramento Business Journal.
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